Midland States Bancorp, Inc. (NASDAQ:MSBI) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analyst sentiment is mostly neutral: Midland States Bancorp has a consensus rating of Hold from six analysts, with an average 1-year price target of $23.90.
• Recent results beat expectations: The company reported $0.79 EPS and $81.1 million in revenue for the quarter, both above analyst estimates.
• Capital return plans and insider activity stand out: The board authorized a $45 million stock buyback covering up to 8% of shares, and director Travis Franklin recently bought 9,400 shares.

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) have been given a consensus recommendation of "Hold" by the six research firms that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $23.90.

Several equities analysts have commented on the stock. UBS Group set a $25.50 price target on shares of Midland States Bancorp in a research note on Monday, January 26th. DA Davidson increased their price objective on Midland States Bancorp from $23.00 to $26.00 and gave the company a "neutral" rating in a report on Monday, April 27th. Wall Street Zen raised Midland States Bancorp from a "hold" rating to a "buy" rating in a report on Saturday. Zacks Research raised Midland States Bancorp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 28th. Finally, Weiss Ratings raised Midland States Bancorp from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 4th.

Insider Buying and Selling at Midland States Bancorp

In related news, Director Travis Franklin purchased 9,400 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average cost of $26.49 per share, with a total value of $249,006.00. Following the completion of the acquisition, the director directly owned 9,400 shares in the company, valued at $249,006. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 8.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Midland States Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership lifted its holdings in Midland States Bancorp by 9.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 198,525 shares of the financial services provider's stock valued at $4,429,000 after acquiring an additional 16,637 shares during the period. Sei Investments Co. lifted its holdings in Midland States Bancorp by 163.0% in the first quarter. Sei Investments Co. now owns 38,076 shares of the financial services provider's stock valued at $849,000 after acquiring an additional 23,600 shares during the period. Patriot Financial Partners GP II L.P. acquired a new stake in Midland States Bancorp in the first quarter valued at $9,783,000. Bank of New York Mellon Corp lifted its holdings in Midland States Bancorp by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 126,213 shares of the financial services provider's stock valued at $2,816,000 after acquiring an additional 2,085 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in Midland States Bancorp in the first quarter valued at $912,000. Institutional investors and hedge funds own 60.93% of the company's stock.

Midland States Bancorp Stock Down 1.8%

Shares of MSBI opened at $26.55 on Friday. The stock has a market capitalization of $550.38 million, a PE ratio of 22.50 and a beta of 0.66. Midland States Bancorp has a 1 year low of $14.24 and a 1 year high of $28.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The company's 50-day simple moving average is $23.60 and its 200-day simple moving average is $21.51.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.19. Midland States Bancorp had a net margin of 7.53% and a return on equity of 11.55%. The business had revenue of $81.10 million for the quarter, compared to analysts' expectations of $75.59 million. Analysts forecast that Midland States Bancorp will post 3.17 earnings per share for the current fiscal year.

Midland States Bancorp announced that its Board of Directors has authorized a stock buyback program on Wednesday, May 6th that authorizes the company to buyback $45.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its shares are undervalued.

Midland States Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.28 annualized dividend and a dividend yield of 4.8%. Midland States Bancorp's dividend payout ratio (DPR) is currently 108.47%.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company's offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.

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